2014-01-09 08:08:02 - Qatar Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com
Fuelled by the world´s third largest proven gas reserves, Qatar has positioned itself as the leading global exporter of liquefied natural gas (LNG). Rising competition, led by liquefaction growth in Australia, the US and potentially East Africa, will pose a challenge to Qatar´s hold on the global gas market later in the decade. Qatar is responding by making increasing efforts diversify its economy through expanding its downstream and petrochemical sectors. Furthermore, the country is growing the international presence of Qatar Petroleum International to offset what will likely be slow growth in domestic oil and gas revenues given the absence of plans for an expansion of LNG and GTL export capacity.
In May 2013 Qatargas awarded the EPC contract for the Laffan
Refinery Phase II to Chiyoda Corporation. The second phase will double capacity at the refinery and allow for a greater volume of condensate to be processed into higher-end products. The 146,000 barrel per day (b/d) facility is due to be operational in 2016.
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